Emissions Trading: What Makes It Work?
The purpose of this paper is to critically discuss the main advantages of introducing environmental regulation tools such as tradable permits markets. Current climate policies, the negotiations under way at the international level, and past experiences with emissions trading in the USA and Europe are critically reviewed. The creation of emissions trading schemes such as the European Union emissions trading scheme plays a key role in the preservation of the global public good that constitutes the climate. This paper calls for the wider development of emissions trading schemes in climate change policy, given a careful design and regulatory appraisal from past experiences. This paper reveals that the introduction of a tradable permits market (such as in Europe on 1 January 2005) which provides incentives to take early abatement measures, may be seen as a decisive first step to fight climate change.
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|Date of creation:||2009|
|Date of revision:|
|Publication status:||Published in International Journal of Climate Change Strategies and Management, 2009, Vol. 1, no. 4. pp. 400-406.Length: 6 pages|
|Contact details of provider:|| Web page: http://www.dauphine.fr/en/welcome.html|
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